NewPeak Metals Ltd. (AU:NPM) has released an update.
NewPeak Metals Limited has launched a non-renounceable entitlement offer to raise approximately $529,793 by issuing new shares at $0.015 each, with the aim to fund exploration in Canada, maintain Argentine projects, consider new acquisitions, and bolster working capital. The offer is limited to shareholders in Australia, New Zealand, Germany, Switzerland, and Luxembourg, and is expected to result in the issuance of around 35.3 million new shares, potentially diluting the shareholdings of non-participating or ineligible shareholders. New shares will commence trading on 8 July 2024.
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